Thursday, October 09, 2008

My Interview With Katie Couric

My Fellow Americats,

Today my pet human frantically fielded dozens of phone calls from reporters around the world demanding to interview me.
Global stock markets are crashing.

$8 TRILLION has disappeared in overall stock values from US markets.

Panic has flooded out from Wall Street and Main Street is deluged in despair.


My responses to the debate, my unequivocal stance on the issues, my ability to discern the issues are being sought out by the media.

I have agreed to one interview only. With Katie Couric. Here is the transcript of that interview:


Couric: Skittles, thank you for agreeing to meet with me on such short notice. Obviously the news today has Main Street, America in a panic. I have but one question for you, Skittles, what should the next POTUS do?

Skittles: Katie, thank you for this opportunity to give my views. As you know, the two largest political parties froze me out of the debates.

First let me say that I believe a depression could happen, but we are not quite there. What our lawmakers do in the next few days, weeks, months will decide that fate.

It may help to put some historical perspective on the situation. We all think of the stock market crash of 1929 as happening on one day. Well, that is not completely accurate. The value of the DJIA on September 29, 1929 was 381.

Certainly there were a couple of days of dramatic losses. But, in fact the overall decline happened over three years.

The DJIA reached it's nadir on July 8, 1932 at a value of 42.

This was a decline of 89%. Very bad.

Let's remember too that while unemployment has risen, it is nowhere near the devastating numbers of the Depression, when unemployment reached 25%.

The worst one day decline in stock market history was on October 19, 1987. Many of us remember that day. And in fact the market had begun losing value three trading days earlier on October 14, 1987. The total decline over those three days was 31%.

Since October 9, 2007, the DJIA has lost 39.4% of its value. We need financial leadership now.

So, why did America fall into a long lasting depression after the crash of '29 and not fall into a depression after the crash of '87???

The stock market crash of '87 was exacerbated by faulty program trading. This market crash is being exacerbated by a ban on short selling of 800 financial institutions. That ban ended yesterday. Both bulls and bears are necessary to a healthy market. Short selling is an effective hedge against massive losses, and just as faulty program trading disrupted the market severely, so did this artificial intervention. I will be interested to hear how much the DJIA fell today because of short selling, and I will be interested to hear how much is due to margin calls.

But also VERY IMPORTANT is a comment Barack Obama made during the debates Tuesday night, and his recent gain in the polls. Obama stated that part of his economic plan included incentives to BUY AMERICAN.

McCain was right to call that for what it is: PROTECTIONISM.

America went down that path on June 17, 1930, when the Smoot Hawley Tariff act was signed into law. That enactment of raising tariffs on 20,000 imports had a major impact on the economy and was a decisive contributing factor in the cause of the Depression. Congress had been debating that act during 1929, and many learned economists have traced the debates in Congress at the time to swings in the stock market.

Our global economy is inextricably linked and interdependent. Far more today than it was in 1929. We MUST NOT GO DOWN THE ROAD OF PROTECTIONISM.

Even if you continue to support Obama, please do not support him on this crucial issue. Our economic survival is depending on it.

So what would I do as POTUS?? I would veto any protectionist legislation. I would also force Wall Street to accept higher margin standards to restore confidence in our stock markets. And I would seek out opportunities to open trade globally with nations who support democracy and human rights.

Couric: Skittles, thank you for answering a direct question with a direct answer.

Skittles: Katie, it was a pleasure and an honor to meet you. Thank you for this opportunity.

12 comments:

The Meezers said...

very well thought out answers Skittles!!! great interview.

The Island Cats said...

Wow! Skittles, you helped us understand this mess a little better. Thanks!

Cheysuli said...

Actually we do support Obama on this very important issue. If we don't have tariffs, then no one in the US can make products as cheaply as they can overseas. If someone can make clothing in China for .50 an hour, any smart company will move factories there rather than keep them in the US. This leads to higher unemployement in the US. Look at how many jobs we have shipped overseas already, due to deregulation.

The Great Depression had an advantage that we dont' have. They actually had a manufacturing base in the US, which we no longer have. We have debt but no actual manufacturing products to speak of This means that all of our borrowing is likely to deflate the dollar even more.

In order to pull ourselves out of this mess we need to start at the bottom. That means creating jobs. One way to create jobs is to create an incentive for people to work in the US and not China or India. One of doing that means setting up tariffs.

The Great Depression had a lot more to do with the deregulation of the late 1800s under the Republicans (Robber Baron Era) than it did with the tariff act.

Tybalt said...

Skittles, thank you so much for your wonderful historical perspective on our current economic situation.

Skittles, The Huntress said...

Dearest Chey,

I'm surprised to see you have the cajones to leave a comment on my site. There's hope for you yet.

I will post a rebuttal with the next day.

In the meantime, I suggest you take Economics 101.

Skittles, The Huntress

Anonymous said...

Skittles,

I rarely come by because of the nasty comments I get when I do even if I don't say anything political. Why do you hate us so much when we have done nothing to you?

We disagree with your statements--but we are not saying you are stupid for holding them. Why do you insist upon calling us stupid?

Chey said...

Oops sorry that was me. We aren't logged in today.

Skittles, The Huntress said...

Dear Chey,

I did not call you stupid. Point to where I actually called you stupid.

You can comment all you want on my blog, and say anything too. I do not delete others' comments simply because I disagree with the content. However, you do delete comments.


Skittles

Chey said...

A. The way you said: Take Economics 101 suggests that I am uneducated and that if I had any education I would change my stance. To me this suggests that my intellect and education is being belittled.

B. The only two comments I deleted of yours included reference to the fact that I should die. I dislike threats on my comments on my blog. The other was a comment that basically pointed out all the things that you demanded I delete out of another person's comment so when I actually did that becuase it offended you so much, it seemed silly to leave your comment saying exactly the same things that so offended you.

Skittles, The Huntress said...

Chey,

At no time did I ever suggest or say you should die.

This argument started when another cat suggested that Skittles was a gangster, or member of the mob. Something to that effect.

You deleted my response, but you did not delete the other cat's suggestion that Skittles belonged to the mob.

If you are going to delete comments, then do it fairly.

I still won't delete your comments, even though you are making up stories. To say that I sent you death threats is ludicrous. Anyone who actually knows me would be astounded that you would say that.

I'm done with this argument. I was done with it last year.

But I support free speech, so say whatever you will.

Wendy

Chey said...

You have your memories of what happened and I have mine. I still have no idea why you hate us so much unless it's simply because you think you wrote something other than what you did write on that comment. I still have it and can quote it back from a back up somewhere. It was hateful and hurtful and every comment you make on my blog is always so hurtful that I consider stopping blogging.

Allowing free speech doesn't just mean time and space, it means respect which does not include name calling.

You wonder why I don't come by often? I think you understand now.

Skittles, The Huntress said...

Chey,

Since summer of last year, I have left a total of 2 comments.

That's hardly clogging your blog with hateful comments.

At this point, if you said you had found the actual comment with a death threat, I would believe it to be made up.

Let it rest. It's over. No death threats, I didn't call you stupid.

Wendy

Thursday, October 09, 2008

My Interview With Katie Couric

My Fellow Americats,

Today my pet human frantically fielded dozens of phone calls from reporters around the world demanding to interview me.
Global stock markets are crashing.

$8 TRILLION has disappeared in overall stock values from US markets.

Panic has flooded out from Wall Street and Main Street is deluged in despair.


My responses to the debate, my unequivocal stance on the issues, my ability to discern the issues are being sought out by the media.

I have agreed to one interview only. With Katie Couric. Here is the transcript of that interview:


Couric: Skittles, thank you for agreeing to meet with me on such short notice. Obviously the news today has Main Street, America in a panic. I have but one question for you, Skittles, what should the next POTUS do?

Skittles: Katie, thank you for this opportunity to give my views. As you know, the two largest political parties froze me out of the debates.

First let me say that I believe a depression could happen, but we are not quite there. What our lawmakers do in the next few days, weeks, months will decide that fate.

It may help to put some historical perspective on the situation. We all think of the stock market crash of 1929 as happening on one day. Well, that is not completely accurate. The value of the DJIA on September 29, 1929 was 381.

Certainly there were a couple of days of dramatic losses. But, in fact the overall decline happened over three years.

The DJIA reached it's nadir on July 8, 1932 at a value of 42.

This was a decline of 89%. Very bad.

Let's remember too that while unemployment has risen, it is nowhere near the devastating numbers of the Depression, when unemployment reached 25%.

The worst one day decline in stock market history was on October 19, 1987. Many of us remember that day. And in fact the market had begun losing value three trading days earlier on October 14, 1987. The total decline over those three days was 31%.

Since October 9, 2007, the DJIA has lost 39.4% of its value. We need financial leadership now.

So, why did America fall into a long lasting depression after the crash of '29 and not fall into a depression after the crash of '87???

The stock market crash of '87 was exacerbated by faulty program trading. This market crash is being exacerbated by a ban on short selling of 800 financial institutions. That ban ended yesterday. Both bulls and bears are necessary to a healthy market. Short selling is an effective hedge against massive losses, and just as faulty program trading disrupted the market severely, so did this artificial intervention. I will be interested to hear how much the DJIA fell today because of short selling, and I will be interested to hear how much is due to margin calls.

But also VERY IMPORTANT is a comment Barack Obama made during the debates Tuesday night, and his recent gain in the polls. Obama stated that part of his economic plan included incentives to BUY AMERICAN.

McCain was right to call that for what it is: PROTECTIONISM.

America went down that path on June 17, 1930, when the Smoot Hawley Tariff act was signed into law. That enactment of raising tariffs on 20,000 imports had a major impact on the economy and was a decisive contributing factor in the cause of the Depression. Congress had been debating that act during 1929, and many learned economists have traced the debates in Congress at the time to swings in the stock market.

Our global economy is inextricably linked and interdependent. Far more today than it was in 1929. We MUST NOT GO DOWN THE ROAD OF PROTECTIONISM.

Even if you continue to support Obama, please do not support him on this crucial issue. Our economic survival is depending on it.

So what would I do as POTUS?? I would veto any protectionist legislation. I would also force Wall Street to accept higher margin standards to restore confidence in our stock markets. And I would seek out opportunities to open trade globally with nations who support democracy and human rights.

Couric: Skittles, thank you for answering a direct question with a direct answer.

Skittles: Katie, it was a pleasure and an honor to meet you. Thank you for this opportunity.

12 comments:

The Meezers said...

very well thought out answers Skittles!!! great interview.

The Island Cats said...

Wow! Skittles, you helped us understand this mess a little better. Thanks!

Cheysuli said...

Actually we do support Obama on this very important issue. If we don't have tariffs, then no one in the US can make products as cheaply as they can overseas. If someone can make clothing in China for .50 an hour, any smart company will move factories there rather than keep them in the US. This leads to higher unemployement in the US. Look at how many jobs we have shipped overseas already, due to deregulation.

The Great Depression had an advantage that we dont' have. They actually had a manufacturing base in the US, which we no longer have. We have debt but no actual manufacturing products to speak of This means that all of our borrowing is likely to deflate the dollar even more.

In order to pull ourselves out of this mess we need to start at the bottom. That means creating jobs. One way to create jobs is to create an incentive for people to work in the US and not China or India. One of doing that means setting up tariffs.

The Great Depression had a lot more to do with the deregulation of the late 1800s under the Republicans (Robber Baron Era) than it did with the tariff act.

Tybalt said...

Skittles, thank you so much for your wonderful historical perspective on our current economic situation.

Skittles, The Huntress said...

Dearest Chey,

I'm surprised to see you have the cajones to leave a comment on my site. There's hope for you yet.

I will post a rebuttal with the next day.

In the meantime, I suggest you take Economics 101.

Skittles, The Huntress

Anonymous said...

Skittles,

I rarely come by because of the nasty comments I get when I do even if I don't say anything political. Why do you hate us so much when we have done nothing to you?

We disagree with your statements--but we are not saying you are stupid for holding them. Why do you insist upon calling us stupid?

Chey said...

Oops sorry that was me. We aren't logged in today.

Skittles, The Huntress said...

Dear Chey,

I did not call you stupid. Point to where I actually called you stupid.

You can comment all you want on my blog, and say anything too. I do not delete others' comments simply because I disagree with the content. However, you do delete comments.


Skittles

Chey said...

A. The way you said: Take Economics 101 suggests that I am uneducated and that if I had any education I would change my stance. To me this suggests that my intellect and education is being belittled.

B. The only two comments I deleted of yours included reference to the fact that I should die. I dislike threats on my comments on my blog. The other was a comment that basically pointed out all the things that you demanded I delete out of another person's comment so when I actually did that becuase it offended you so much, it seemed silly to leave your comment saying exactly the same things that so offended you.

Skittles, The Huntress said...

Chey,

At no time did I ever suggest or say you should die.

This argument started when another cat suggested that Skittles was a gangster, or member of the mob. Something to that effect.

You deleted my response, but you did not delete the other cat's suggestion that Skittles belonged to the mob.

If you are going to delete comments, then do it fairly.

I still won't delete your comments, even though you are making up stories. To say that I sent you death threats is ludicrous. Anyone who actually knows me would be astounded that you would say that.

I'm done with this argument. I was done with it last year.

But I support free speech, so say whatever you will.

Wendy

Chey said...

You have your memories of what happened and I have mine. I still have no idea why you hate us so much unless it's simply because you think you wrote something other than what you did write on that comment. I still have it and can quote it back from a back up somewhere. It was hateful and hurtful and every comment you make on my blog is always so hurtful that I consider stopping blogging.

Allowing free speech doesn't just mean time and space, it means respect which does not include name calling.

You wonder why I don't come by often? I think you understand now.

Skittles, The Huntress said...

Chey,

Since summer of last year, I have left a total of 2 comments.

That's hardly clogging your blog with hateful comments.

At this point, if you said you had found the actual comment with a death threat, I would believe it to be made up.

Let it rest. It's over. No death threats, I didn't call you stupid.

Wendy